Future Advance Mortgage. This Mortgage secures future advances and is a future advance mortgage under Act No. 348 of the Michigan Public Acts of 1990 (MCL 565.901 ET SEQ.).
Future Advance Mortgage. This Mortgage is a “Future Advance Mortgage” under [MCLA 565.901 et seq.] [Local Counsel: Please insert appropriate statutory reference.] All future advances under this Mortgage and the Transaction Documents shall have the applicable priority as if the future advance was made on the date that this Mortgage was recorded. Notice is hereby given that the Secured Obligations secured hereby may increase as a result of not only future advances, but also defaults hereunder by the Mortgagor, which may include (but are not limited to) unpaid interest or late charges, unpaid taxes, assessments or insurance premiums which the Mortgagee elects to advance, defaults under leases that the Mortgagee elects to cure, attorney fees or costs incurred in enforcing its rights, or other expenses incurred by the Mortgagee in protecting the Premises, the security of this Mortgage or the Mortgagee’s rights and interests. [CONFIDENTIAL TREATMENT REQUESTED PURSUANT TO THE FREEDOM OF INFORMATION ACT]
Future Advance Mortgage. This Mortgage is a “Future Advance Mortgage” under Public Act 348 of Michigan Public Acts of 1990. All future advances under the Loan Documents shall have the same priority as if the future advance was made on the date that this Mortgage was recorded. This Mortgage shall secure all indebtedness of the Mortgagor, its successors and assigns under the Loan Documents, whenever incurred, such indebtedness to be due at the times provided in the Loan Documents. Notice is hereby given that the indebtedness secured hereby may increase as a result of any defaults hereunder by Mortgagor due to, for example, and without limitation, unpaid interest or late charges, unpaid taxes or insurance premiums which Agent elects to advance, defaults under leases that Agent elects to cure, attorney fees or costs incurred in enforcing the Loan Documents or other expenses incurred by Agent in protecting the premises, the security of this Mortgage or Agent’s rights and interests.
Future Advance Mortgage. This Mortgage is intended to secure the unpaid balances of loan advances to be made under the Note after this Mortgage has been delivered to the Office of the Xxxxxx County Clerk for recordation. The maximum amount of the unpaid indebtedness secured hereby, exclusive of interest thereon and advances made for the payment of taxes, assessments, insurance premiums and costs incurred for the protection of the Mortgaged Property, which may be outstanding at any time is the amount set forth in Paragraph C on page 1 hereof.
Future Advance Mortgage. THIS IS A FUTURE ADVANCE MORTGAGE. Without limiting in any way the indebtedness secured by this Mortgage, it is agreed that this Mortgage secures future advances under Act. No. 348 of the Michigan Public Acts of 1990 as amended.
Future Advance Mortgage. This is a future advance mortgage ------------------------- within the meaning of Act. No. 348 of Michigan Public Act of 1990.
Future Advance Mortgage. This Mortgage is a “Future Advance Mortgage” under Public Act 348 of Michigan Public Acts of 1990. All future advances under the Loan Documents shall have the same priority as if the future advance was made on the date that this Mortgage was recorded. This Mortgage shall secure all Indebtedness, such Indebtedness to be due at the times provided in the Loan Documents. Notice is hereby given that the Indebtedness may increase as a result of any defaults hereunder by Mortgagor due to, for example, and without limitation, unpaid interest or late charges, unpaid taxes or insurance premiums which Mortgagee elects to advance, defaults under leases that Mortgagee elects to cure, attorney fees or costs incurred in enforcing the Loan Documents or other expenses incurred by Mortgagee in protecting the premises, the security of this Mortgage or Mortgagee’s rights and interests.
